Boralex Inc. ("Boralex" or the "Corporation") has concluded the acquisition, previously announced in June 2008, of the Ocean Falls hydroelectric power station located in Northern British Columbia.
The power station has an installed capacity of 14.5 MW of which 2 MW are currently being generated and sold primarily to BC Hydro under a long-term energy sales contract. Given its hydroelectric potential, the installed capacity of this power station could potentially be increased to more than 35 MW over the course of the coming years. At the same time, Boralex also acquired the development rights for two other hydroelectric projects in the same region, representing an additional 10 MW.
Patrick Lemaire, President and Chief Executive Officer of Boralex, said: "Boralex aims to initially optimize the 2 MW currently being generated by the Ocean Falls power station. Subsequently, our goal is to bring on-stream the additional 12.5 MW. The future development of the remaining capacity will be done over the next few years."
About Boralex
Boralex is a major private electricity producer whose core business is the development and operation of power stations that run on renewable energy. Employing over 300 people, the Corporation owns and operates 22 power stations with a total installed capacity MW of 365 MW in Canada, in the Northeastern United States and in France. In addition, the Corporation has more than 300 MW of power projects under development. Boralex is distinguished by its diversified expertise and in-depth experience in three power generation segments - wind, hydroelectric and thermal. Boralex shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. www.boralex.com
Boralex also holds a 23% interest in Boralex Power Income Fund, which has 10 power stations with a total installed capacity of 190 MW in Quebec and the United States. These sites are managed by Boralex.
SOURCE: BORALEX INC.
Ms. Patricia Lemaire, Director, Public Affairs and Communications, Boralex Inc., (514) 985-1353, This email address is being protected from spambots. You need JavaScript enabled to view it.